Volume 2012 - Number 7
February 17, 2012
FHFA, UBS Await Federal Court Ruling on Challenge To Statute of Limitations on GSE Non-Agency MBS Cases
Observers in MBS and legal circles are closely watching how a federal judge will rule on a pending motion by UBS Americas to dismiss the mortgage securities lawsuit brought last summer by the Federal Housing Finance Agency on statute of limitations grounds and the ruling’s potential impact on other pending FHFA MBS litigation. The FHFA sued UBS in July and then filed a blizzard of 17 lawsuits against some of the industry’s biggest institutions, including Bank of America, Credit Suisse, JPMorgan Chase, Morgan Stanley and others, seeking tens of billions of dollars in damages incurred by Fannie Mae and Freddie...
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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.
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